Montezemolo FOTAs first chairman

FOTA (Formula One Teams Association) was set up by the 10 Formula One teams to work closely with the FIA to help improve the sport.

Ferrari said the meeting had agreed five primary objectives and established three commissions:

a Sporting Working Group will be led by McLaren chief executive Martin Whitmarsh; a Technical Working Group by Honda team principal Ross Brawn;a Commercial Working Group by Renault F1 team boss Flavio Briatore.